Verition Fund Management LLC Has $1.10 Million Stock Position in Core Scientific, Inc. (NASDAQ:CORZ)

Verition Fund Management LLC increased its position in Core Scientific, Inc. (NASDAQ:CORZ) by 16.2% in the third quarter, Holdings Channel.com reports. The firm owned 92,557 shares of the company’s stock after acquiring an additional 12,925 shares during the period. Verition Fund Management LLC’s holdings in Core Scientific were worth $1,098,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CORZ. Banque Cantonale Vaudoise bought a new stake in Core Scientific in the second quarter valued at approximately $28,000. Sunbelt Securities Inc. acquired a new position in shares of Core Scientific in the 2nd quarter valued at $33,000. Divisadero Street Capital Management LP bought a new stake in shares of Core Scientific in the 2nd quarter valued at $93,000. Rise Advisors LLC raised its stake in Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after buying an additional 1,000 shares during the period. Finally, Xponance Inc. bought a new position in Core Scientific during the second quarter worth about $104,000.

Core Scientific Price Performance

Core Scientific stock opened at $16.99 on Monday. The company’s 50-day moving average is $14.70 and its 200-day moving average is $11.37. The firm has a market capitalization of $4.74 billion and a PE ratio of -3.14. Core Scientific, Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $18.63.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CORZ shares. Roth Capital upgraded Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Roth Mkm began coverage on shares of Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 target price on the stock. BTIG Research upped their price target on shares of Core Scientific from $15.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group began coverage on shares of Core Scientific in a report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Needham & Company LLC upped their target price on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Core Scientific presently has a consensus rating of “Buy” and an average target price of $18.38.

Insiders Place Their Bets

In related news, insider Todd M. Duchene sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the transaction, the insider now directly owns 1,661,474 shares of the company’s stock, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total value of $1,901,550.00. Following the sale, the director now directly owns 345,239 shares of the company’s stock, valued at $6,252,278.29. This represents a 23.32 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 32.00% of the company’s stock.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.